See also: Theory of the firmMost legal jurisdictions specify the forms of ownership that a business cantake, creating a body of commercial law for each type.The major factors affecting how a business is organized are usually:The size and scope of the business firm and its structure, management, andownership, broadly analyzed in the theory of the firm. Generally, a smallerbusiness is more flexible, while larger businesses, or those with widerownership or more formal structures, will usually tend to be organized ascorporations or (less often) partnerships. In addition, a business that wishes toraise money on a stock market or to be owned by a wide range of people will
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